1041 Trust K-1's

[Colfax Mingo]

Do you need to file K-1's if there are all zeros on form.

Last year (2010) is first year of trust with 2 beneficiaries.

$100 Interest Income

$9000 loss on sale of house on 4797, 140K Sale, 149K Basis

$2500 Deductions

No Distributable or Taxable Income

Will file final 1041 this year (2011) & distribute 9K loss to beneficiaries.

Thanks!

Always a lot to learn here

[bstaxes]

I would file zeros. Especially if they received a 1099 for the sales of the house. The IRS will be looking for that form and info.

I have in the past filed zeros on 1041 with no problem.

[Colfax Mingo]

I would file zeros. Especially if they received a 1099 for the sales of the house. The IRS will be looking for that form and info.

I have in the past filed zeros on 1041 with no problem.

Thanks